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The disgraced and ousted former WeWork CEO will receive a whopping $660 million payout from WeWork after the company made its public-market debut Thursday with a value of $9 billion and shares opening at $11.28 - just two years after the shared office space company nearly went bankrupt under his leadership.
The valuation represents a marked drop from the $47 billion the company reportedly reached in 2019, when it first attempted to go public.
But that attempt blew up in spectacular fashion in August of that year, resulting in then-CEO Adam Neumann's ousting, after investors grew wary of the eccentric CEO's exorbitant spending and increasingly erratic behavior.
The losses spurred by that failure were then exacerbated by the pandemic.
The company also pulled in $658 million in revenue during third quarter, 2021, executives revealed during a virtual investor day earlier this month.
Despite being ousted from the company he co-founded and no longer having any role in the business, Neumann, through an